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Not Just Bud Light: Anheuser-Busch’s Other Beers Are Also Suffering
Sales of other Anheuser-Busch-owned beer brands are also being affected by boycotts amid Bud Light and Budweiser's decline. According to Bump Williams Consulting, Michelob Ultra and Busch Light have both seen a decline in sales. On a comparative basis, there has been a 4.3% drop in Michelob Ultra sales and an 8.5% decrease in Busch Light sales, based on NielsenIQ data. There has been a 10.2% fall in Budweiser sales, while Bud Light sales mirrored the previous week with a 27.5% decrease.
📈 t.me/TheEconomyNews
Sales of other Anheuser-Busch-owned beer brands are also being affected by boycotts amid Bud Light and Budweiser's decline. According to Bump Williams Consulting, Michelob Ultra and Busch Light have both seen a decline in sales. On a comparative basis, there has been a 4.3% drop in Michelob Ultra sales and an 8.5% decrease in Busch Light sales, based on NielsenIQ data. There has been a 10.2% fall in Budweiser sales, while Bud Light sales mirrored the previous week with a 27.5% decrease.
📈 t.me/TheEconomyNews
Forwarded from The Economy News
Samsung Fights Back Against Beijing's Tech Theft, Sues Chinese Firm BOE Over Patent Infringement
Samsung Display, a subsidiary of South Korean tech giant Samsung, has initiated a patent infringement lawsuit against Chinese display maker BOE. The lawsuit, filed in a Texas court, accuses BOE of unlawfully using four Samsung OLED display technologies in the production of iPhone 12 displays. The case is Samsung's first against BOE after repeated warnings about unauthorised use of its patented technology. The lawsuit is part of an ongoing legal feud between the two companies, which began in May 2021 with a notice of patent infringement to BOE.
📈 t.me/TheEconomyNews
Samsung Display, a subsidiary of South Korean tech giant Samsung, has initiated a patent infringement lawsuit against Chinese display maker BOE. The lawsuit, filed in a Texas court, accuses BOE of unlawfully using four Samsung OLED display technologies in the production of iPhone 12 displays. The case is Samsung's first against BOE after repeated warnings about unauthorised use of its patented technology. The lawsuit is part of an ongoing legal feud between the two companies, which began in May 2021 with a notice of patent infringement to BOE.
📈 t.me/TheEconomyNews
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Russian Mining Giant To Delist From London Stock Exchange
Russian precious metals miner Polymetal has called a shareholder meeting to secure approval for its delisting from the London Stock Exchange (LSE), the company said in a statement on Monday. Polymetal was targeted by sanctions from Western countries and countersanctions from Moscow.
The company also plans to redomicile its UK headquarters from the island of Jersey to the Astana International Financial Centre in Kazakhstan. Redomiciliation involves a company moving its place of the registry while maintaining the same legal identity.
Polymetal is one of the world’s ten largest gold producers and is among the top five for silver. It has ten gold and silver mines in Russia and Kazakhstan and branches worldwide.
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Russian precious metals miner Polymetal has called a shareholder meeting to secure approval for its delisting from the London Stock Exchange (LSE), the company said in a statement on Monday. Polymetal was targeted by sanctions from Western countries and countersanctions from Moscow.
The company also plans to redomicile its UK headquarters from the island of Jersey to the Astana International Financial Centre in Kazakhstan. Redomiciliation involves a company moving its place of the registry while maintaining the same legal identity.
Polymetal is one of the world’s ten largest gold producers and is among the top five for silver. It has ten gold and silver mines in Russia and Kazakhstan and branches worldwide.
📈 t.me/TheEconomyNews
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Supreme Court Revives Whistleblowers' Medicare, Medicaid Fraud Lawsuits
The US Supreme Court has revived two whistleblower lawsuits that accuse companies of defrauding Medicare and Medicaid. The cases relate to alleged violations of the federal False Claims Act (FCA), which is used by the government to fight healthcare fraud. The rulings follow a unanimous decision in June reviving whistleblower actions against pharmacy operators Safeway and SuperValu. The FCA allows private citizens to sue those who have defrauded the US government on the government's behalf. A company found guilty under the law will be fined $2,000 per false claim, as well as triple damages.
📈 t.me/TheEconomyNews
The US Supreme Court has revived two whistleblower lawsuits that accuse companies of defrauding Medicare and Medicaid. The cases relate to alleged violations of the federal False Claims Act (FCA), which is used by the government to fight healthcare fraud. The rulings follow a unanimous decision in June reviving whistleblower actions against pharmacy operators Safeway and SuperValu. The FCA allows private citizens to sue those who have defrauded the US government on the government's behalf. A company found guilty under the law will be fined $2,000 per false claim, as well as triple damages.
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Forwarded from The Economy News
❗US Oil Reserves Hits 40-Year Low
With the Biden administration running down the US Strategic Petroleum Reserve by 44% in just two years, it now stands at its lowest levels in four decades.
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With the Biden administration running down the US Strategic Petroleum Reserve by 44% in just two years, it now stands at its lowest levels in four decades.
📈 t.me/TheEconomyNews
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BREAKING ... 🚨🚨🚨
Binance, the giant crypto exchange, is cutting a big chunk of its workforce as it grapples with federal investigations and regulatory crackdowns in the U.S. and abroad that could radically diminish its business.
Over 1,000 people have been fired in recent weeks, according to a person familiar with the moves. The exercise, which is continuing, could result in Binance losing more than a third of its staff, the person said.
🟨 t.me/BinanceDailyNews
Binance, the giant crypto exchange, is cutting a big chunk of its workforce as it grapples with federal investigations and regulatory crackdowns in the U.S. and abroad that could radically diminish its business.
Over 1,000 people have been fired in recent weeks, according to a person familiar with the moves. The exercise, which is continuing, could result in Binance losing more than a third of its staff, the person said.
🟨 t.me/BinanceDailyNews
Forwarded from The Economy News
Sixteen Million Germans Living Below Poverty Line as Food Banks Falter
A report by 🇩🇪 broadcaster DW blames an influx of Ukrainian refugees, inflation and less goodwill from companies, as compounding the crisis.
The biggest food bank network, Tafel, serves over 2mn people and has had to turn away new applicants to provide for existing clients.
There is now a call for Berlin to step in to help.
📈 t.me/TheEconomyNews
A report by 🇩🇪 broadcaster DW blames an influx of Ukrainian refugees, inflation and less goodwill from companies, as compounding the crisis.
The biggest food bank network, Tafel, serves over 2mn people and has had to turn away new applicants to provide for existing clients.
There is now a call for Berlin to step in to help.
📈 t.me/TheEconomyNews